How much I know about Chapter One

What is Management?

Management is the ability to work with others, while focused on completing an objective.

Management: the process of working with and through others to achieve organizational objectives in a changing environment.

What is Effectiveness?

The ability to complete a task in a timely fashion.

Effectiveness: a central element in the process of management that entails achieving a stated organizational objective.

What is Efficiency?

The ability to complete a task using all resources to best of your ability.

Efficiency: a central element in the process of management that balances the amount of resources used to achieve an objective against what was actually accomplished.

What is offshoring?

Offshoring is sending business else where for lower wages.

Offshoring: controversial practice of sending jobs to low wage countries.

What is the Internet?

The Internet is a database used for global communication and research.

Internet: global network of servers and personal and organizational computers.

Define Managerial Functions, and name as many as you can.

Managerial functions are general skills that managers have.
Decisions Making
Organization
Planning
Critical Thinking
Communication
Staffing

Managerial Functions: general administrative duties that need to be carried out in virtually all productive organization to achieve desired outcomes

Decision Making
Organizing
Staffing
Communicating
Motivating
Leading
Controlling

Define Managerial skills, and name as many as you can.

Managerial skills are specific skills that managers have.
technical
Wilson managerial skills

Managerial Skills: Specific observable behaviors that effective managers exhibit.

Wilson's Managerial Skills
Technical
Team building
Drive

What is a small business?

Small business is a enterprise with few than 100 employees, that seek to make a profit.

Small business: an independently owned and managed profit seeking enterprise with fewer than 100 employees.

What is entrepreneurship?

Entrepreneurship is an individual that works by finding their own resources and who does not have to follow by any ones rules. They are risk takers.

Entrepreneurship: process of pursuing oppotunities without regard es currently under one's control.